Oh Se-cheol (third from left), CEO of Samsung C&T, and Kazunari Kibe (second from left), President and Representative Executive Officer of Infroneer Holdings, pose for a photo after signing a business agreement on the 30th of last month. Photo courtesy of Samsung C&T
Samsung C&T (028260) Engineering & Construction Group is accelerating its push into the global infrastructure development and concession businesses through cooperation with INFRONEER Holdings, a Japanese comprehensive infrastructure services company. Concessions refer to the operation and management of public infrastructure.
The two companies signed a strategic memorandum of understanding to this effect at INFRONEER Holdings’ headquarters in Chiyoda-ku, Tokyo, on the 30th of last month, they announced Monday. The signing ceremony was attended by key officials from both companies, including Samsung C&T CEO Oh Se-chul and INFRONEER Holdings President and Representative Executive Officer Kazunari Kibe.
INFRONEER Holdings is a comprehensive infrastructure services company with engineering capabilities accumulated through its construction business. It leads Japan’s concession businesses and public-private partnership (PPP) market in areas such as airports, roads, water and sewage systems, and stadiums. The company also integrates and manages the entire process of infrastructure development, construction, operation, and maintenance.
Through this agreement, the two companies plan to lead the global infrastructure development market, including Japan, by combining Samsung C&T’s extensive EPC (engineering, procurement, and construction) experience, management capabilities, and global network with INFRONEER Holdings’ development, concession, and PPP capabilities in areas such as buildings, roads, and water resources. Specifically, they aim to create new business opportunities through collaboration on development and concession projects inside and outside Japan, joint pursuit of overseas PPP projects, joint investment, and exchange of technical personnel.
“With the signing of this strategic cooperation agreement with INFRONEER Holdings, we expect that by combining the strengths of both companies, we will be able to create various business opportunities in Japan and global markets,” Oh said.
Samsung C&T is expanding its position as a global developer by participating in the Turkey highway development project, a PPP project, and has proven its capabilities in the global EPC market by successfully carrying out various projects in power, civil infrastructure, and buildings. In Japan, the company has established a local subsidiary handling investment and development projects, expanding its business scope beyond EPC to investment, development, and operation in the infrastructure sector.